M/I Homes Boosts Share Repurchase Authorization by $100 Million

In a move reflecting confidence in its market position and commitment to delivering shareholder value, M/I Homes, Inc. (NYSE:MHO) proudly declared today an increase in its share repurchase authorization by an impressive $100 million. The decision, greenlit by the Board of Directors, underscores the company’s strategic approach to capital allocation.

As of September 30, 2023, a substantial $53 million remained available under the previous authorizations, signaling the board’s confidence in M/I Homes’ financial strength and future prospects.

The additional funds earmarked for share repurchases can be utilized through various channels, including open market transactions or privately negotiated deals. The company’s management will exercise discretion in determining the timing and amount of these purchases, taking into account factors such as market conditions, business considerations, and legal requirements. Importantly, the authorization comes without an expiration date and is subject to modification, discontinuation, or suspension at the company’s discretion.

M/I Homes, Inc. stands as a premier national homebuilder, with operations spanning key regions, including Columbus and Cincinnati, Ohio; Indianapolis, Indiana; Chicago, Illinois; Minneapolis/St. Paul, Minnesota; Detroit, Michigan; Tampa, Sarasota, Fort Myers/Naples, and Orlando, Florida; Austin, Dallas/Fort Worth, Houston, and San Antonio, Texas; Charlotte and Raleigh, North Carolina, and Nashville, Tennessee.

This significant financial move aligns with M/I Homes’ commitment to providing quality single-family homes and further solidifies its standing as a leading player in the industry.

While the future holds promise, the company acknowledges the inherent uncertainties in its forward-looking statements. Words such as “expects,” “anticipates,” and “believes” signify the intent to identify such statements, which involve risks and uncertainties. Factors such as economic conditions, interest rates, competition, and regulatory environments may impact the actual results, as detailed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

“We recognize the responsibility that comes with such financial decisions and remain vigilant in navigating the dynamic business landscape,” commented [Spokesperson’s Name], [Title] at M/I Homes. “This move reflects our ongoing commitment to enhancing shareholder value and underscores our confidence in the strength of M/I Homes’ future.”

Investors and stakeholders are advised to stay tuned for any further disclosures on related subjects in subsequent filings, releases, or presentations, as the company continues to transparently communicate its financial strategies and performance.

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